Analysing the current strategic position of the agricultural market of Kazakhstan

The Journal of Economic Research & Business Administration, 2021

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DOI 10.26577/be.2021.v136.i2.06
Data confidence 70 medium
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Abstract

The performance of the agricultural market has the significant impact on maintaining the food securitywithin the Republic of Kazakhstan. Therefore, the purpose of this research paper is to describe thecurrent strategic position of the agricultural market of Kazakhstan. The research has value because itsresults may help the future researchers in defining the policies and recommendations for developing theagricultural sector of the Republic of Kazakhstan. The research methodology is based on the philosophyof epistemology because this paper is concerned whether the current strategic position of the agriculturalsector in the Republic of Kazakhstan should be treated as the fact. Moreover, the presence of economictrends and links within the agricultural sector of the Republic of Kazakhstan would be evaluated throughapplying various scientific methods. The research results show that the gross output level in the agriculturalsector of Kazakhstan in 2019 equals to 5151163 million tenge. Moreover, the following key successfactors were found for the agricultural market in Kazakhstan: prices, innovation, creating trust with theconsumers. The internal market analysis showed the following results: new entrant threat was medium,the supplier power was low, the power of buyers was medium, the substitution threat was high and therivalry was high. It was worth noting that employees and shareholders were the most powerful stakeholdersin the agricultural sector of Kazakhstan.Key words: agricultural market, Kazakhstan, innovation, efficiency, strategic analysis.